The government of Kuwait said it had appointed Basel Al-Haroun the next governor of the Central Bank of Kuwait, Reuters reported on March 14.

He will succeed Muhammad Yousef al-Hashel, who has been governor since April 2012. Al-Haroun has held positions in banks and regulatory bodies in Kuwait.

Under the central bank law, the Kuwaiti government appoints the governor and deputy governor for five-year terms, on recommendation of the finance minister. The governor chairs the eight-member board of